Free · FHA / VA / Conv. · PITI
Home loan calculator
Calculate your home loan payment with principal, interest, taxes, and insurance (PITI). Compare FHA (3.5% down), VA (0% down), conventional (5–20% down), and jumbo loans.
Freddie Mac PMMS weekly reference · Freddie Mac Primary Mortgage Market Survey
30-year fixed 6.95% | 15-year fixed 6.26%
Freddie Mac's PMMS reports these U.S. weekly averages as of 2026-09-17, based on qualifying conventional conforming purchase applications. They are not personal quotes and do not describe jumbo or adjustable-rate offers.
Compare lender Loan Estimates for your credit, down payment, points, property, and loan type; enter your own contract rate in the calculator.
Home loan types compared
| Type | Min down | Min FICO | Mortgage insurance |
|---|---|---|---|
| Conventional | 3–5% | 620 | PMI until 20% equity |
| FHA | 3.5% | 580 | MIP for life (most cases) |
| VA | 0% | 580–620 | None (funding fee instead) |
| USDA (rural) | 0% | 640 | 1% upfront + 0.35% annual |
| Jumbo | 10–20% | 700+ | Varies |
PITI — the four parts of your payment
- Principal — paying down the loan balance
- Interest — cost of borrowing
- Taxes — property tax, paid into escrow monthly
- Insurance — homeowner's insurance + PMI if applicable
$400k home, $80k down (20%) — full PITI
- P + I (7% / 30 yr on $320k): $2,129/mo
- Illustrative property tax assumption (1.1%/yr on $400k): $367/mo
- Illustrative homeowner's insurance assumption: $125/mo
- PMI: $0 (20% down)
- Total PITI: $2,621/mo
Home Loan Calculator FAQ
How much home can I afford?
Start with a monthly housing budget that includes principal, interest, property tax, insurance, mortgage insurance, utilities, and other debts. Common debt-to-income guidelines are only screening tools; a lender must assess your application, and an approved amount may not fit your budget.
What credit score do I need to buy a house?
Eligibility and pricing depend on the loan program, lender, full application, down payment, and property. Ask lenders which programs you may qualify for and compare written Loan Estimates rather than relying on one score threshold.
What's PMI and how do I get rid of it?
For many conventional loans, private mortgage insurance may be cancellable when applicable requirements are met. Rules differ by loan and mortgage-insurance type; ask your servicer for the cancellation criteria and written steps.
Should I put 20% down?
A larger down payment can reduce the loan amount and may change mortgage-insurance requirements, but it also uses cash that could be needed for closing, reserves, or other goals. Compare the actual offers and keep enough accessible savings for your circumstances.
VA loan vs conventional — which is better?
The better fit depends on eligibility, funding fees, down payment, mortgage-insurance costs, rate, and how long you expect to keep the loan. Compare Loan Estimates for the options available to you; neither loan type is always cheaper for every borrower.
Are mortgage rates going to drop in 2026?
Future rates are uncertain. Compare current written offers and choose a payment and loan structure that fits your budget and plans without relying on a forecast.
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Each calculator uses its own inputs and method. Review the labels, units and assumption notes shown with the result. Costs, taxes, fees, benefits and other factors are not modeled unless the page or calculator explicitly says they are. A fixed-rate projection is a scenario, not a forecast or personalized recommendation.
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